[privado]

Interesting information - How likely are you to sell your home at Lakeside to new retirees??

Should You Move After Retirement? -


Article quotes a Lakeside resident
http://finance.yahoo...888031.html?x=0

Retirees who relocate is at the lowest point in history since WW11 with only 4% opting to relocate. Florida has seen a drop of 54% Seniors are choosing to stay were they have lived most of their lives or move close to children and grandchildren.

Doesn't sound good for the 500 homes for sale at Lakeside.

[Zardoz]

privado, on 10 March 2010 - 12:36 PM, said:

Interesting information - How likely are you to sell your home at Lakeside to new retirees??

Should You Move After Retirement? -


Article quotes a Lakeside resident
http://finance.yahoo...888031.html?x=0

Retirees who relocate is at the lowest point in history since WW11 with only 4% opting to relocate. Florida has seen a drop of 54% Seniors are choosing to stay were they have lived most of their lives or move close to children and grandchildren.

Doesn't sound good for the 500 homes for sale at Lakeside.

Two sides to a market. Downward prices allow people to go into a market or buy a nicer house that they could not
afford before. Also just because the market is down does not mean it won't go back up again. Our house prices
at home are starting to rise as people can sell real estate in US they will move around and some will come here.
I have seen this happen over and over.

[slobo]

The infrastructure will support us better with fewer retirees, think of this time as the pause that refreshes. Growth here will be (or is) unmanageable with the expansion in housing for commuting Tapatios and the weekenders. I think all the future retirees up north ought to stay near the grandkids.

[privado]

Zardoz, on 10 March 2010 - 01:26 PM, said:

Two sides to a market. Downward prices allow people to go into a market or buy a nicer house that they could not
afford before. Also just because the market is down does not mean it won't go back up again. Our house prices
at home are starting to rise as people can sell real estate in US they will move around and some will come here.
I have seen this happen over and over.

Think you are missing the point- [b]Retirees are not moving- only 4% of almost 37,000,000 new retirees moved last year[/b
Housing prices may be rising a bit- but doesn't mean seniors are moving or selling.If Florida has a 54% drop- Mexico's drop in expats is higher.
The Move up market is flagging because people cannot sell their existing homes.

People buying now are those who were priced out of the market before Prices have dropped so low- my kids are looking at a home in the fastest growing city in Calif. Lincoln- in one of the fastest growing metro areas in the nation- 1.5 hours to Lake Tahoe and 1.5 hours to San Francisco. 100's of homes 3 years old 3,100+ sq ft- 4 bed 4bath $239,000.00 -269,000--these homes sold for close to 500,000.00 2 years ago. Lincoln and next door Roseville have 3 Del Webb Sun City Communities that are very popular- seniors are choosing to stay close to their former friends and families.

All this does not bode well for Lakeside, where homes prices haven't changed at all in the past 2 years-I am so happy I sold at top dollar when I had a chance- otherwise I'd still be waiting possibly for years.

[slobo]

Muy Bueno.

[newinajijic]

privado, on 10 March 2010 - 01:58 PM, said:

Think you are missing the point- [b]Retirees are not moving- only 4% of almost 37,000,000 new retirees moved last year[/b
Housing prices may be rising a bit- but doesn't mean seniors are moving or selling.If Florida has a 54% drop- Mexico's drop in expats is higher.
The Move up market is flagging because people cannot sell their existing homes.

People buying now are those who were priced out of the market before Prices have dropped so low- my kids are looking at a home in the fastest growing city in Calif. Lincoln- in one of the fastest growing metro areas in the nation- 1.5 hours to Lake Tahoe and 1.5 hours to San Francisco. 100's of homes 3 years old 3,100+ sq ft- 4 bed 4bath $239,000.00 -269,000--these homes sold for close to 500,000.00 2 years ago. Lincoln and next door Roseville have 3 Del Webb Sun City Communities that are very popular- seniors are choosing to stay close to their former friends and families.

All this does not bode well for Lakeside, where homes prices haven't changed at all in the past 2 years-I am so happy I sold at top dollar when I had a chance- otherwise I'd still be waiting possibly for years.

It's great your kids can buy at such reasonable prices in Cali, but just think how much they're going to pay in house taxes, other taxes and insurances just to live in a bankrupt state. And all their expenses will be constantly escalating thru the years, whereas they could live in other parts of the US for far, far less money.

Sorry, but I never understood the attraction to Cali's high cost of living, fires, mudslides and earthquakes.

Whatever may not bode well for Lakeside R.E. is actually a blessing, instead of having a population explosion that the infrastructure cannot handle. I prefer not to see Lakeside grow any more.

[privado]

newinajijic, on 10 March 2010 - 02:37 PM, said:

It's great your kids can buy at such reasonable prices in Cali, but just think how much they're going to pay in house taxes, other taxes and insurances just to live in a bankrupt state. And all their expenses will be constantly escalating thru the years, whereas they could live in other parts of the US for far, far less money.

Sorry, but I never understood the attraction to Cali's high cost of living, fires, mudslides and earthquakes.

Whatever may not bode well for Lakeside R.E. is actually a blessing, instead of having a population explosion that the infrastructure cannot handle. I prefer not to see Lakeside grow any more.

FYI-It does not have the high tax rates of Mass or New Jersey.
CALIF IS BANKRUPT BECAUSE IT'S PROPERTY TAXES ARE ONLY 1%OF THE SALES PRICE of your home buy for 239,000-prop tax is 2390. per year and rate increase is so small it will takes years to break 3,000.00. This is the major problem and needs to be changed-

According to experts California is still the NO1 choice for Quality of Life. For young people- they have jobs here- as major companies have moved offices out of the city and into the lower Sierras-it's 1.5 hrs to Lake Tahoe- Sking- 1.5 hrs to San Francisco- one of the beautiful cities in the world, 45 min. to Napa Wine Country-30 min to Sacramento River Delta and Bay-Boating, Sailing, Water Sports, Fishing and Great Weather- Why would they want to live anyplace else?

[tobyjug]

privado, on 10 March 2010 - 03:21 PM, said:

FYI-It does not have the high tax rates of Mass or New Jersey.
CALIF IS BANKRUPT BECAUSE IT'S PROPERTY TAXES ARE ONLY 1%OF THE SALES PRICE of your home buy for 239,000-prop tax is 2390. per year and rate increase is so small it will takes years to break 3,000.00. This is the major problem and needs to be changed-

According to experts California is still the NO1 choice for Quality of Life. For young people- they have jobs here- as major companies have moved offices out of the city and into the lower Sierras-it's 1.5 hrs to Lake Tahoe- Sking- 1.5 hrs to San Francisco- one of the beautiful cities in the world, 45 min. to Napa Wine Country-30 min to Sacramento River Delta and Bay-Boating, Sailing, Water Sports, Fishing and Great Weather- Why would they want to live anyplace else?

I love the idea of 1% tax..but is/was the price of an "average" home 239,000???..what many people here at Lakeside do not appreciate, with the new capital gains regulations etc , the tax able value of home will reflect the actual sales price and not some low ball number

[Peter]

privado, on 10 March 2010 - 01:58 PM, said:

Think you are missing the point- [b]Retirees are not moving- only 4% of almost 37,000,000 new retirees moved last year[/b
Housing prices may be rising a bit- but doesn't mean seniors are moving or selling.If Florida has a 54% drop- Mexico's drop in expats is higher.
The Move up market is flagging because people cannot sell their existing homes.

People buying now are those who were priced out of the market before Prices have dropped so low- my kids are looking at a home in the fastest growing city in Calif. Lincoln- in one of the fastest growing metro areas in the nation- 1.5 hours to Lake Tahoe and 1.5 hours to San Francisco. 100's of homes 3 years old 3,100+ sq ft- 4 bed 4bath $239,000.00 -269,000--these homes sold for close to 500,000.00 2 years ago. Lincoln and next door Roseville have 3 Del Webb Sun City Communities that are very popular- seniors are choosing to stay close to their former friends and families.

All this does not bode well for Lakeside, where homes prices haven't changed at all in the past 2 years-I am so happy I sold at top dollar when I had a chance- otherwise I'd still be waiting possibly for years.

If my calculations are correct, 4% of 37,000,000 retirees comes out to 1,480,000 of them that did move. A small number of them will choose lakeside because of everything it has to offer, especially the weather, low taxes, low cost of domestic help, etc.

My home is currently for sale but, like most of us here, it is paid for and I do not have to sell. I fully expect it to be 4 or 5 years, or maybe longer, because of the price range our home is in (over $700,000)and do not mind waiting for the economy in the US and elsewhere to turn around. 4 friends of ours, with homes priced between $100,000 and $200,000 all sold between 1 day and 3 months. Lower priced homes seem to still be doing well.

You are right that home prices have dropped in Calif. and they have not dropped anywhere near as much as in other places like Florida. The fact that home prices have not changed here in the last two years, which means they have neither gone up or down, just shows we have a more stable real estate market than the majority of areas in the US.

And, as much as I would love to sell my home and buy something smaller, I would just as soon not see a large influx of people. As a matter of fact, my wife and I were having this discussion on the way back from Guad today. We both thought the Ajijic area was much nicer 7 years ago when we first came here. Both the Mexicans and the gringos were far friendlier, traffic was nowhere as horrendous as it is today, you saw the lake coming down the libriamente instead of Wal-mart, and so on. At the rate it is going, the individual villages will lose their uniqueness while the area fom Joco to Chapala becomes one continuous metropolitan area. To us, that is not progress but a catastrophe.

[Lilli]

I wonder if those who moved to Lakeside 15 years ago said the same thing 7 years later.

[slobo]

Lilli, on 10 March 2010 - 05:37 PM, said:

I wonder if those who moved to Lakeside 15 years ago said the same thing 7 years later.

Yup.

[privado]

Peter, on 10 March 2010 - 05:41 PM, said:

If my calculations are correct, 4% of 37,000,000 retirees comes out to 1,480,000 of them that did move. A small number of them will choose lakeside because of everything it has to offer, especially the weather, low taxes, low cost of domestic help, etc.

My home is currently for sale but, like most of us here, it is paid for and I do not have to sell. I fully expect it to be 4 or 5 years, or maybe longer, because of the price range our home is in (over $700,000)and do not mind waiting for the economy in the US and elsewhere to turn around. 4 friends of ours, with homes priced between $100,000 and $200,000 all sold between 1 day and 3 months. Lower priced homes seem to still be doing well.

You are right that home prices have dropped in Calif. and they have not dropped anywhere near as much as in other places like Florida. The fact that home prices have not changed here in the last two years, which means they have neither gone up or down, just shows we have a more stable real estate market than the majority of areas in the US.

And, as much as I would love to sell my home and buy something smaller, I would just as soon not see a large influx of people. As a matter of fact, my wife and I were having this discussion on the way back from Guad today. We both thought the Ajijic area was much nicer 7 years ago when we first came here. Both the Mexicans and the gringos were far friendlier, traffic was nowhere as horrendous as it is today, you saw the lake coming down the libriamente instead of Wal-mart, and so on. At the rate it is going, the individual villages will lose their uniqueness while the area fom Joco to Chapala becomes one continuous metropolitan area. To us, that is not progress but a catastrophe.

Quote from US News-

Of seniors who did change places in 2008, most stayed in the same state and the same county. Only 486,000 Americans took up residence in a new state, and about 89,000 people ages 55 and older moved abroad. Not surprisingly, the likelihood of relocating decreases as people age. While 5.5 percent of those ages 50 to 59 moved to a new city or town, just 3.9 percent of those ages 65 to 74 relocated.

these figures are from 2008- assume figures for 2009 are even worse- which Should have an effect on Lakeside home prices- but if folks sit tight on their EXPECTED PRICE then you you may be there for 7 years

[newinajijic]

Peter - I've been here 9 years and totally agree with you on people and traffic.

Why are you selling your house here? Is $ 700 K your original price or have you dropped it since it'w been on the market?

[Mainecoons]

I'd wager that most of the traffic is Mexican, not gringo. Lakeside has been rediscovered by the Tapatios.

[El Toro Furioso]

Mainecoons, on 10 March 2010 - 06:55 PM, said:

I'd wager that most of the traffic is Mexican, not gringo. Lakeside has been rediscovered by the Tapatios.

I agree completely. Watch in the next two months or so as virtually all snowbirds leave. The traffic won't improve perceptibly. It is a permanent, and mostly weekend/long weekend, problem. The massive new apparently illegally-built projects on the carretera on the way to Jocotepec are being sold almost exclusively to tapatios as weekend homes.

[Zardoz]

privado, on 10 March 2010 - 01:58 PM, said:

Think you are missing the point- [b]Retirees are not moving- only 4% of almost 37,000,000 new retirees moved last year[/b
Housing prices may be rising a bit- but doesn't mean seniors are moving or selling.If Florida has a 54% drop- Mexico's drop in expats is higher.
The Move up market is flagging because people cannot sell their existing homes.

People buying now are those who were priced out of the market before Prices have dropped so low- my kids are looking at a home in the fastest growing city in Calif. Lincoln- in one of the fastest growing metro areas in the nation- 1.5 hours to Lake Tahoe and 1.5 hours to San Francisco. 100's of homes 3 years old 3,100+ sq ft- 4 bed 4bath $239,000.00 -269,000--these homes sold for close to 500,000.00 2 years ago. Lincoln and next door Roseville have 3 Del Webb Sun City Communities that are very popular- seniors are choosing to stay close to their former friends and families.

All this does not bode well for Lakeside, where homes prices haven't changed at all in the past 2 years-I am so happy I sold at top dollar when I had a chance- otherwise I'd still be waiting possibly for years.

No I did not miss your point many people here are pesimistic about things. I believe in the long term thing
will come back maybe not to previous levels in some areas but it will come back. We are starting to see more
sales back home. I also think if we have a downturn of NOB folks the Mexicans from Guad will buy here. Yes
the next year or two here may not be good but longterm it is too nice here it will come back somewhat.

[Peter]

privado, on 10 March 2010 - 07:15 PM, said:

Quote from US News-

Of seniors who did change places in 2008, most stayed in the same state and the same county. Only 486,000 Americans took up residence in a new state, and about 89,000 people ages 55 and older moved abroad. Not surprisingly, the likelihood of relocating decreases as people age. While 5.5 percent of those ages 50 to 59 moved to a new city or town, just 3.9 percent of those ages 65 to 74 relocated.

these figures are from 2008- assume figures for 2009 are even worse- which Should have an effect on Lakeside home prices- but if folks sit tight on their EXPECTED PRICE then you you may be there for 7 years

Like I posted, a few of those 89,000 will relocate to this area. And, prices here may drop, but again, it is you that said prices have not changed here in the last two years, meaning they have neither risen or fallen. And, if they do decrease somewhat in the future, it will not be very much. Once again, people here do not have mortgages and most do not have to sell. If they decide to do so, it is by choice and not because they lost their jobs, the bank is about to foreclose, and so on.

John, my wife and I built a pretty large home because we had our daughter and grandchild living with us and then her fiance and another grandchild. We had no idea how long they were going to be living with us. Our part of the house is 4500 sf under roof. We also have an aprtment and bodega below comprising another 1700 sf for a total of 6200 sf. As a former builder, I can honestly say the home is built with many more amenities and much higher construction specs than found in probably 99% of the homes here at lakeside.

However, the family recently moved to Portland and my wife and I certainly do not need such a large home. We would like to sell in order to buy a smaller place, put the difference in the bank, and increase our monthly income with the interest.

And, Privado assumes our EXPECTED PRICE is the $700,000. To answer your question, the home was originally appraised by 3 different real estate companies between $795,000 and $925,000 in today's real estate market. We actually have a little over the latter figure invested in it. So, at the $700,000 figure, that is a major reduction and it is also our bottom line. I am 61 years old and do not have to sell and can wait for the market to turn around, even if it takes a few years.

I am friends with several of the better known builders in this area. They tell me that the building costs here, to American specifications, is currently around $100 a sf for anything under roof. So, construction costs are around $620,000. We have another $50,000 or so in the home that exceeds normal American specs. Our lot is 1912 square meters with a value of $100 a sm or $192,000. (I sold the lot next door, with a view of the lake, not quite as nice as ours to a builder for $95 a sm.) The pool was $35,000. And, there is about $75,000 worth of furniture, etc. being sold with the home. That comes to $972,000. $900,000 + would be the EXPECTED PRICE. At $700,000 it is a bargain and reflects today's economic conditions.

[newinajijic]

Peter - Good explanation. It sounds as if you have a dream home. I wouldn't reduce my price either.

Some people at Lakeside think only $ 100 K - $ 250 K houses are selling. Yes, more of them are, but there is an increase in sales of higher priced houses over the last few months. A house in Los Arroyos sold last month for full price $ 435 K.

Several houses in our Community, Los Arroyos Sur have sold in the past 2 years for $400, $470, $500 & $540 K (most recent).

Someone with money will fall in love with your house and pay close to asking price. It was done in the past and will happen again.